Day: May 29, 2019

‘Violent’ Bitcoin Price Correction to $3000 Could Ring Dramatic Reality Check

boss

By CCN: As the bitcoin price shatters past $8,600, analysts are desperately throwing out wild new price targets. $10,000 in the next week. $30,000 by the end of the year. $1 million by 2020! But one trader is less optimistic. Posting their analysis on TradingView, they warn that bitcoin is still in a bear market and may suffer a “violent” correction back to $3,000. “I’m becoming increasingly convinced that the bear market is not over, and that this is a bear market rally… I think as soon as we roll…

President of Germany’s Central Bank Warns of Serious Outcomes of Digital Currencies

boss

The president of Germany’s central bank, the Deutsche Bundesbank (BBk), has warned central banks about the potential risks of introducing digital currencies, Reuters reports on May 29. Jens Weidmann, BBk president and chairman of the board of the Bank for International Settlements (BIS), reportedly claimed that the adoption of digital money could potentially destabilize the financial system during periods of crisis. The German economist explained that easy access to digital currencies could accelerate a collapse of lenders, while it would “fundamentally change the business model of banks” even in a…

Compliant Token Startup Standard Tokenization Protocol Secures $7 Million in Funding

boss

Compliant tokenization startup Standard Tokenization Protocol (STP) announced that it secured $7 million in funding in a press release shared with Cointelegraph on May 29. Per the release, STP raised the funds in two separate private funding rounds from multiple venture capitalists by selling its STPT token, with $5 million in the first round and $2 million in the second. The investors cited by the company are Neo Global Capital, BlockVC and AlphaBit. The announcement explains that STP’s service is designed to allow for the compliant and transparent tokenization of…

‘Sell the House, Car and Kids. Buy Litecoin!’ CNBC Host Goes Crypto Crazy

boss

By CCN: Crypto-mania has once again gripped mainstream financial outlets. CNBC’s Fast Money panel were beside themselves yesterday as they analyzed bitcoin and litecoin’s parabolic rise in recent months. The panel whooped and cheered at the mention of litecoin’s 400 percent price rise. The anchor ended the segment yelling: “Sell the house, sell the car, sell the kids. Buy litecoin!” Will #Bitcoin sizzle or fizzle this summer after racing 130% higher so far this year? Our traders discuss. pic.twitter.com/LYEDSKfVJd — CNBC’s Fast Money (@CNBCFastMoney) May 28, 2019 pic.twitter.com/iTyV1F00Hi — litecoin…

US Congress Think Tank Claims Bitcoin Is Used Mostly as ‘Investment Vehicle’

boss

Bitcoin (BTC) and cryptocurrencies are used as a speculative investment tool and not money, a report by United States think tank the Congressional Research Service (CRS) claimed on May 10. As part of an investigation into cash usage in the U.S., the report, dubbed “The Potential Decline of Cash Usage and Related Implications,” appears to forecast a reduction in paper money as contactless card payments increase. Researchers also analyzed other forms of payment, including cryptocurrency, be it public, private or issued by a central bank. Taking bitcoin as its prime…

Bitcoin To Rally By 230% Into Year’s End, Venture Capitalist Suggests

boss

Over the past 48 hours, Bitcoin (BTC) has begun to locally top out, with buying pressure slowing and prices slightly slipping. One prominent investor, however, explains that we’re just getting started, looking to strong fundamentals in the broader cryptocurrency sector. In fact, he explains that by year’s end, BTC will have moved past $20,000, and will be well on its way to prices unseen before. Related Reading: Bitcoin Has Little Resistance Until $10K: Does a Big Bull Market Await? Bitcoin To Hit $30,000, What? Bitcoin passed $8,900 on the weekend,…

IOTA Price Soars to 2019 High After Killing Off Centralized Coordinator

boss

By CCN: IOTA price has appreciated more than 11-percent against the US dollar and circa 13-percent against bitcoin in the last 24 hours. The internet-of-things cryptocurrency, which is also the world’s fifteenth largest by market capitalization, peaked towards $0.507 on May 28 at 1915 UTC, its highest since November 14, 2018, according to Binance exchange data. That took IOTA’s gains this year to above 37-percent, including a 58.14-percent rise this month. IOTA PRICE RECLAIMS NOVEMBER 14 HIGH | SOURCE: COINMARKETCAP.COM IOTA daily volumes showed the coin changing maximum hands to/from Bitcoin’s…

Wallet and Card App Crypto.com Adds Bitcoin Cash Support

boss

Prepaid, debit and credit cards backed by digital assets are a great way to spend your coins, given that it will take time for retailers to transition to accepting direct cryptocurrency payments. One such card, offered by Crypto.com, has just opened up to bitcoin cash users. Also Read: How to Easily Convert Funds From BTC to BCH Crypto.com Adds Bitcoin Cash Support Hong Kong headquartered payments and cryptocurrency platform Crypto.com announced on Wednesday May 29 that it has added support for bitcoin cash (BCH) to its wallet and card app.…

Korean Regulators Vow to Keep Exchanges in Check Amid Bitcoin Spring

boss

While the surge in bitcoin and altcoin prices has ushered in another wave of excitement into the cryptospace, South Korean authorities remain focused on managing local expectations surrounding the industry. An emergency pan-governmental meeting has been held in a bid to keep the activities of crypto exchanges and other market participants in check during this “crypto spring,” reports local news source, KBS on May 28, 2019. Curbing Unlawful Practices Per sources close to the matter, following the recent bitcoin (BTC) and altcoins price rally, South Korean regulators held an emergency…

Bitcoin Price Bull Race Has to Thank the Whales Holding Its Large Amounts

boss

Photo: Crypto360 / Flickr The last time when we saw Bitcoin’s price like this were in August 2018, and that was, at the time, a disappointment, because after December 2017- it seemed that it’s all going downwards. Latest research from Diar shows that the landscape of Bitcoin supply holdings has shifted ever since the most recent bottom was met this past Christmas. The number of addresses holding between 1000 and 10K Bitcoins each has seen a steep rise with a whopping accumulation of 450,000 Bitcoins in less than 9-months. Over…